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By admin 2019-01-31

The Centre had increased the MSP to ₹5,450 per quintal for raw cotton or kapas. Erratic rainfall and pest attacks have shrunk the crop size this year. The trade has estimated a cotton crop of 335 lakh bales, about 8 per cent lower than last year’s 365 lakh bales and the lowest since 2011-12, when it was pegged at 373.25 lakh bales. So far, farmers across the country have sold about 160 lakh bales from the current crop. There’s still an equal quantity of cotton that farmers will be bringing into the markets over the next couple of months. This is even as ginners are finding it hard to sell the processed cotton. “It is a peculiar situation. While the buyers are slow in terms of their purchases, ginners have turned choosy on whom to sell to in order to avoid payment issues. Finding the right buyer has become a challenge for them. As a result, the stocks with ginners are going up,” said Ramanuj Das Boob, a sourcing agent in Raichur, Karnataka. However, with arrivals gaining momentum in the market, market prices have declined below MSP at several markets, mainly in Telangana and parts of Maharashtra.